Yes, with original rules second trade has no sense. But with smaller risk and may be partial profit taking may be it has. I think it should be tested.

4H Box Breakout

Good ideas, Yen. I actually was thinking that 15% is too little actually. we would have been stopped way too much. Actually, if we set 30% stop loss. 2 lots. 1 TP 1 another at TP3-4 or more. It would work fine. But what I think, not every breakout ...

4H Box Breakout

I mostly agree and I continue trading per Ace rules with Danno96 twist but only taking 1 trade if it is losing and taking second trade if first was BE. I think that taking double hit per week is too much. If it is going on for 3-4 weeks which is not ...

4H Box Breakout

I only have 1 suggestion, stop loss size should be such that stop loss still in the box, not outseide when buffer is broken.

4H Box Breakout

actually, if to set stop loss to BE+20 pips after say half box or 100 pips we would be actually in some profit. the real breakout doe snot hit BE stop loss after it made 100 pips. I used to trade contra trend., when breakout it just goes goes goes. ...

4H Box Breakout

Yes, I agree on this. in this case we can take a lot more trades. risking 0.15% per trade to get 2-4% is a really good R:R ratio and it might also work in 2002 and 2005 kinds of market

4H Box Breakout

Pharoah, this is very reasonable. This is in short more extreme way of 50% of the box stop loss. Had I had TP1 take profit, I would make 2% tonight and cover 2% out of 3% losses in 3 trades with 50% box. What it actually does is reducing our losses ...

4H Box Breakout

Pharoah, you mean, that if box size is 150 pips, as soon as price moved 20-25 pips we set stop loss to BE? Than if SL taken out and price breaks out again we do the same and again until we have 3-4 losses this way? Could you elaborate?

4H Box Breakout

Yes I did. My computer/ Excel skills are limited and I cannot make Danno96 kind of spreads. But I already pointed out that you also made mistake regarding winning second trade while it was not. Yes, there were few second winning trades but overall ...

4H Box Breakout

But all of the to the point :-P

4H Box Breakout

Like this

4H Box Breakout

I can say that I am following plan, but I do believe that additional rule of no trading if first trade of the week is a loss should be implemented. It would save money in case of choppy / consolidating market. I personally will not make second trade ...

4H Box Breakout

I think in light of what is happening we simply should put stop loss not exactly on BE but few pips behind. may be sacrifice spread. It has sense. Last week I missed TP3 move and I think probability is really high that there will be at least TP2 ...

4H Box Breakout

Unfortunately, you might notice I was again right about support area...

4H Box Breakout

On my chart it showed yesterday 20 pips short of TP1, so I set on BE without +20 pips and decided to add 20 pips after TP1 is broken. You gotta agree that leaving 160 pips unprotected is not a good idea.

4H Box Breakout

ok, got stopped just with 1 pip at BE. There is something cheesy about Oanda. It is already second time.

4H Box Breakout

149.35-149.00

4H Box Breakout

The whole area looks like a mine field. If price indeed break this level there is possibility it can still stall between 149.35-149.99 and then 148.57-148.00 A lot of support. If we check weekly chart G/J is in huge downtrend. Within this time frame ...

4H Box Breakout

Let's see if there will be breakout. I am still in short trade with 50% stop loss. I am at BE +20 pips if it reaches 149.00

4H Box Breakout

I wonder who got that valuable 1%

4H Box Breakout